Pollard Banknote Awarded Pull-Tab Ticket Contract by Michigan Lottery

Pollard Banknote (TSX:PBL) has announced that it has been given a contact to serve as the sole supplier of validation pull-tab tickets and other services to the Michigan Lottery.
As quoted in the press release:

he contract will run until December 31, 2022, with the potential for three additional one-year extensions. The value of the contract term, including contract renewals, is estimated to be $5.6 million.
The contract extends the 21-year relationship between Pollard Banknote and the Michigan Lottery, which began in 1996 with an instant ticket contract. Since 2003, the company has printed nearly half a billion pull-tabs for the Lottery through its wholly owned subsidiary, American Games. Working with the Michigan Lottery, Pollard Banknote has adapted strategies from the instant games category to develop and enhance the pull-tab product line. Examples of that include introducing popular themes from the instant category (e.g., Cash for Life) and various licensed properties, as well as by evolving prize structures to offer higher top prizes. In FY2016, pull-tab tickets from the Lottery generated approximately $32 million in revenue to support education in Michigan.
“We are thrilled to again be selected as the Lottery’s sole supplier of validation pull-tab tickets,” said Donna Preziotti, Director, Sales & Marketing, Pollard Banknote. “Since the inception of the Lottery’s pull-tab product line in 2003, we have worked together to enhance these tickets by incorporating many innovative features. In 2009, we successfully implemented bar coded validation, providing added security and accountability to these games. We see a lot of potential for sales increases in this category and we’re excited about pursuing this together with the Michigan Lottery.”
“Pollard Banknote has consistently proven to be a leader in the lottery industry with its state-of-the-art innovations and services. We are pleased that the company will continue to serve as our pull-tab ticket supplier,” said Aric Nesbitt, the Commissioner of the Michigan Lottery. “Pollard Banknote provides unparalleled industry knowledge and strategies that have improved the financial performance of our pull-tab products. We look forward to working with Pollard Banknote to develop future innovations that help support the Lottery’s mission of providing funds for public education in Michigan.”

Click here to read the full press release.